First time tax self assesment

Spidernick

Jami74 wrote: »

I was employed for the year earning £17k+ which I paid PAYE and NI on and entered these details on the form.

I sincerely hope that you haven't shown the NI from your employment on your tax return! :eek:

Jami74

Spidernick wrote: »

I sincerely hope that you haven't shown the NI from your employment on your tax return! :eek:

No there wasn't a box for that. I just tried to fill it in honesty and accurately.

[Deleted User]

If your bill is not around £90 come back to us.

Jami74

Right, I have redone it and this time claimed £1000 trading allowance.

Employed income: £17646
Income tax: £957.20
Professional fees/subscriptions £508
Business started 01/08/2017
Cash basis

Turnover: £1340.00
Trading allowance: £1000
Income tax already refunded: £59
Student loan deducted by employer: £147
Total due £296.60

I would appreciate any help. Obviously if that's how much tax I owe then so be it, but it does say 'Net profit for tax purposes £340' so £296 seems quite high. I can't enter expenses if I put trading allowance but my expenses came to £359 so at most I expected to pay 20% of £981.

Dazed_and_confused

You are missing Marriage Allowance.

That would knock £230 off the liability.

Jami74

Dazed_and_confused wrote: »

You are missing Marriage Allowance.

That would knock £230 off the liability.

But it says

If you are the recipient of a transfer (the person receiving the extra allowance) do not complete this section, your transferred allowance will be included in your calculation if a transfer is already in place or will be amended once an application is received.

It is/was already part of my tax code for PAYE but there doesn't seem to be anywhere to put this.

Dazed_and_confused

So what happened yesterday when you told us this?

I have gone back and ticked the box for marriage allowance which was part of my tax code for that year

Jami74

Dazed_and_confused wrote: »

So what happened yesterday when you told us this?

Well the next question was

'Was your total income £11,500 or less....' to which I had to answer no.

It doesn't change the amount due.

Okay, I realised they are using personal tax allowance of £11,500 and not taking into account the marriage allowance from my partner (which is exactly what you were saying).

I'm can't work out how to enter that information on the tax return, or if I have to pay what they ask and then they'll realise and refund the difference.

Dazed_and_confused

'Was your total income £11,500 or less....' to which I had to answer no.

That sounds like it's aimed at the Marriage Allowance applicant (transferor). I thought you were the receiver?

In any case your Personal Allowance would only be £11,500 as Marriage Allowance does not entitle you to any extra allowances. You get a deduction from your overall tax bill. A totally different concept to extra allowances.

Jami74

Dazed_and_confused wrote: »

That sounds like it's aimed at the Marriage Allowance applicant (transferor). I thought you were the receiver?

In any case your Personal Allowance would only be £11,500 as Marriage Allowance does not entitle you to any extra allowances. You get a deduction from your overall tax bill. A totally different concept to extra allowances.

Yes I am the receiver. For 17/18 year my partner 'gave' me 10% of his personal tax allowance. This was reflected in my PAYE tax code and meant I paid £230 less tax.

It does not show up in the self-assessment calculation (if it did then their calculation would match my calculation) and there doesn't seem to be any way of entering that detail in the tax return.

So I'm wondering if I should pay what I should owe (their calculation minus £230) or if I'd get fined and I should pay the whole lot and wait for the refund.